Calling it an “agonizing decision for the company,” Piper Aircraft announced plans to layoff up to 150 workers in Vero Beach, Florida, in response to economic instability in “several key regions around the world” including Europe, Latin America and Asia.
Piper’s announcement in a press release issued Wednesday morning said, “As a direct result of the slowdown in sales, Piper Aircraft will adjust the production schedule for remainder of 2015, as well as 2016.”
The layoffs will impact approximately 15 to 20 percent of Piper’s workforce of 750, some of whom will be offered early retirement packages, the company said.
News of the layoffs comes just a few months after Piper unveiled its new M600 turboprop amid great fanfare in Vero Beach, announcing a certification schedule that will bring the new model to the market by late this year or early next year.
The company has been propped up by relatively strong sales of piston airplanes into the global training market, which is now showing some signs of weakness in certain regions.
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